Palantir Tokenized Stock (PLTRC): What It Is

Palantir (Coinbase Tokenized Stock), ticker PLTRC, is a digital certificate designed to provide economic exposure to Palantir shares. It is not itself a Palantir share or a direct investment in the company. The token is issued by Coinbase Onchain SPV Ltd in the Abu Dhabi Global Market (ADGM), and each token initially represents a 1:1 beneficial interest in shares held in a segregated custody account.

The share-to-token ratio can change to account for distributions, fees, taxes, corporate actions and other adjustments. Dividends and other distributions are generally reinvested after applicable costs, with their economic effect reflected in the ratio. This structure means the token’s value is linked to the underlying shares, but it does not make PLTRC identical to holding Palantir stock directly. The legal terms and the rights attached to the certificate matter, so readers should review the issuer’s current documentation before considering how it fits their needs.

PLTRC represents a proportional beneficial interest in a pool of Palantir shares and related property held on trust. The underlying shares are held in segregated custody with a broker-dealer and custodian. Coinbase Onchain SPV Ltd is the issuer; Onchain Marketplace Ltd operates the tokenization infrastructure and maintains the definitive legal ownership register in its capacity as a Central Securities Depositary.

The token is issued on Base, an Ethereum layer-2 network. It is not the native token of Base, and the public information available do not identify any other chain on which PLTRC is issued. The project description says the token can be held and transferred through supported blockchain networks and may be used in decentralized finance markets. That does not mean every wallet, exchange or DeFi application supports it, or that it is available to every user. Check the supported network and the token’s official contract details before transferring funds; sending it through an unsupported network or to an incompatible address can result in loss.

The stated purpose of PLTRC is to bring exposure to Palantir shares onto a blockchain. Authorized Participants create tokens by delivering the corresponding shares or subscription value. The token may also be transferred on supported networks and used in DeFi markets where accepted. Its onchain format can make it easier to hold or transfer within compatible crypto infrastructure, but it does not remove the legal and operational differences between a tokenized certificate and a brokerage-held share.

As of 2026-11-05, the reported circulating and total supply were both about 2,775 PLTRC, with no maximum supply specified. The reported price was about $169.34 on that date; prices and supply can change. Public sources do not establish that PLTRC grants voting rights, direct shareholder status, or an unconditional right to redeem tokens for shares or cash. Do not assume those rights exist: consult the current offering terms and check whether you meet any applicable eligibility requirements.

PLTRC carries several kinds of risk. Its value may not track Palantir shares exactly because the share-to-token ratio can change and market trading may be thin or uneven. The arrangement also depends on the issuer, custody setup, legal structure and accuracy of the ownership register. A problem with any of these could affect a holder’s ability to transfer or realize the token’s intended economic exposure.

There are also blockchain risks, including smart-contract faults, network outages, wallet errors and loss of private keys. DeFi use adds platform and liquidity risks, and a token accepted by one application may not be accepted by another. The token’s availability and transferability may be subject to jurisdictional, identity-verification or other restrictions. For storage, use a wallet that supports Base and the correct PLTRC contract, protect its recovery phrase offline, and confirm the destination network before sending. Review issuer documentation for custody, transfer, redemption and eligibility terms; never treat a tokenized certificate as risk-free or as a substitute for understanding those terms.